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  • 25-03-2024
  • Mathematics
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Monte Company’s July sales budget shows sales of $1,200,000. The company budgets beginning merchandise inventory of $100,000 and ending merchandise inventory of $80,000 for July. Cost of goods sold is 60% of sales. The budgeted cost of merchandise purchases for July is: $800,000. $680,000. $740,000. $700,000. $720,000.

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